We started the Finhive Women and Investing Contest (FinWIC) this Spring in the midst of a global pandemic and a volatile stock market. In the six weeks of the contest, there were new social and financial issues, many moments of hope and disappointment, and a stock market that seemed to defy gravity at times.
Our contestants took all this in stride and built resilient portfolios that stood the test of time. Collectively, the contestants started with an investable base of $300,000 and in short 6-weeks, they turned it into $339,210, a gain of over 13%. Impressive in any investment period….and particularly remarkable during the current conditions. Add to that the fact that the group was extremely astute about selling at or near the top of the market such that they held over $98,000 in cash at the end of the contest.
If the contest were continuing, that dry powder (cash) places the group well to take advantage of the drop in the stock market this week. Congratulations to all the contestants who report enhanced learning and confidence in their investing skills from this experience. We will contact the winners in each category in the next few days to deliver their prizes.
Now, like all good things in life, the FinWIC contest has come to an end. Hope this was as fun for all of you to follow as it was for us to organize. Even though the contest has ended, the learnings from it should not. Investment opportunities are out there with markets still open and moving, and the best way to navigate them is the timeless advice from Dory in Finding Nemo “Just keep swimming”.
Enjoy your summer, check out our summer calendar for kids and adults and we hope to see you all in the fall again with new classes and another round of the FinWIC contest.